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RBI board recommends aligning accounting year with fiscal year from 2020-21

The Central Board of Directors of the RBI at its 582nd meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the RBI

Press Trust of India  |  New Delhi 

Reserve Bank of India, RBI
The Central Board of Directors of the RBI recommended aligning the financial year of RBI, currently Jul-Jun, with the govt's fiscal year (Apr-Mar) from the year 2020-21

The Reserve Bank board on Saturday recommended aligning the central bank's accounting year, beginning July, with the financial year from 2020-21, an official statement said.

The Central Board of Directors of the at its 582nd meeting reviewed the current economic situation, global and domestic challenges and various areas of operations of the Reserve Bank.

The board recommended aligning the financial year of RBI, currently July-June, with the government's fiscal year (April-March) from the year 2020-21. It approved forwarding a proposal to the government for its consideration, the said in the statement.

Addressing the board meeting, Finance Minister Nirmala Sitharaman outlined the thinking behind the Union Budget 2020-21 and the focus areas of the government.

She indicated increased complementarity in policy between the and the government to address growth concerns, the statement said.

Complimenting the finance minister on the Budget, the board members made various suggestions for consideration of the government, it added.

The finance minister was accompanied by Minister of State for Finance Anurag Singh Thakur, Finance Secretary Rajiv Kumar and Expenditure Secretary T V Somanathan, among other senior officials.

First Published: Sat, February 15 2020. 18:34 IST
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